Residential Properties
A provincial land transfer tax applies to all properties in Ontario, including Toronto. A separate Toronto land transfer tax applies to Toronto properties only (An easy-to-use calculator and other options for determining the tax are provided below).
First time home buyers of new AND re-sale homes will receive a rebate of the Toronto land transfer tax of up to $4,475 (equivalent to the Toronto land transfer tax payable on a $400,000 property).
NOTE (Provincial Land Transfer Tax): First time home buyers maybe eligible for a rebate of the provincial land transfer tax (PLTT) up to $4,000.
To calculate the total LTT payable for Residential properties, choose one of the following:
1. CLICK HERE & ENTER THE PURCHASE PRICE IN THE SPACE PROVIDED. THE LAND TRANSFER TAX WILL AUTOMATICALLY BE CALCULATED & DISPLAYED.
OR
2. ADD THE FOLLOWING TOGETHER:
PROVINCIAL LAND TRANSFER TAX
(Applies to all Ontario properties, including Toronto)
0.5% on the first $55,000
plus 1.0% of the amount from $55,001 to $250,000
plus 1.5% of the amount in excess of $250,001 to $400,000
plus 2.0% of the amount in excess of $400,000
plus 2.5% of the amount in excess of $2,000,000
TORONTO LAND TRANSFER TAX
(Applies to Toronto properties only)
0.5% on the first $55,000
plus 1.0% of the amount from $55,001 to $250,000
plus 1.5% of the amount in excess of $250,001 to $400,000
plus 2.0% of the amount in excess of $400,000
plus 2.5% of the amount in excess of $2,000,000
Commercial Properties
To calculate the total LTT payable for Commercial properties, choose one of the following:
1. CLICK HERE & ENTER THE PURCHASE PRICE IN THE SPACE PROVIDED. THE LAND TRANSFER TAX WILL AUTOMATICALLY BE CALCULATED & DISPLAYED.
OR
2. ADD THE FOLLOWING TOGETHER:
PROVINCIAL LAND TRANSFER TAX
(Applies to all Ontario properties, including Toronto)
0.5% on the first $55,000
plus 1.0% of the amount from $55,001 to $250,000
plus 1.5% of the amount in excess of $250,001 to $400,000
plus 2.0% of the amount in excess of $400,000
TORONTO LAND TRANSFER TAX
(Applies to Toronto properties only)
0.5% on the first $55,000
plus 1.0% of the amount from $55,001 to $250,000
plus 1.5% of the amount in excess of $250,001 to $400,000
plus 2.0% of the amount in excess of $400,000
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